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Google to purchase VR company?

Google is reportedly buying VR (Virtual Reality) company Lytro for a reported $40 million.

The multinational technology company recently launched the Google Photos app and the Daydream device to see panoramas, 360-degree photos and photos taken with Cardboard Camera in VR, so it would be the perfect opportunity to get help from a third company by acquiring Lytro.

Several sources have told Tech Crunch that Google is buying Lytro, which originally stared as a camera company, but developed into the world of VR.

An insider has declared the deal an "asset sale" with Lytro allegedly wanting $40 million from Google.

However, another source said that it could go for a much lower value of $25 million.

The third insider has told the website that if the sale goes ahead, that the deal would include employees of Lytro coming to work for Google.

It would be a huge loss for Lytro has the company is estimated at around $360 million as of 2017, according to data from PitchBook.

In the same year and thanks to investors including Andreessen Horowitz, Foxconn, GV, Greylock, NEA, Qualcomm Ventures, Lytro received $200 million in funding.

Neither Google or Lytro have commented on the sale.

Lytro, Inc. was founded in 2006 by Ren Ng and develops light-field cameras.

It began shipping its first generation pocket-sized camera, capable of refocusing images after being taken, in 8 GB and 16 GB versions on February 2012.

By 2015, Lytro unveiled its high-end VR video capture camera with companion custom compute server.

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